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By Rachel Goldfarb, originally published on Next New Deal

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Where Millennials Can Make It Now (Atlantic Cities)

Roosevelt Institute | Pipeline Fellow Nona Willis Aronowitz introduces her two-week series on cities where Millennials afford the costs of achieving their goals. The first piece, on Omaha, points out the higher levels of risk Millennials can take on with low costs of living.

Median Wage Falls to Lowest Level Since 1998 (AJAM)

David Cay Johnston reports that as the median wage falls, average wages are rising, according to new data from the Social Security Administration. That's a sign of gains at the top of the income ladder, with the wealthiest Americans pulling up the average.

How Washington Abandoned America's Unpaid Interns (The Atlantic)

Stephen Lurie explains the legal puzzle that has left unpaid interns without protections. There's serious structural damage happening to the workplace when young people work unpaid and unprotected, but that can't be fixed without laws or regulations.

Where’s the GOP’s Anti-Poverty Agenda? (WaPo)

Ryan Cooper asks why the Republicans have ignored the section of their autopsy report about poverty. A hard line against poverty assistance programs is particularly horrifying when unemployment is still high, and the GOP knows it, but apparently doesn't care.

2014 Cuts Hit Defense Spending, so Obama Has Leverage on Taxes (MSNBC)

Timothy Noah suggests that since the next round of sequestration cuts hit the Pentagon, the Democrats have a lot more budget clout than they think. Republicans don't want to be tied to defense cuts, which makes these cuts a useful negotiation tool.

If the GOP Repeals Obamacare, 137 Million Americans Could Get Cancellation Notices (MoJo)

Erika Eichelberger thinks that the Republicans would face public outrage if they actually managed to repeal the Affordable Care Act. The people getting cancellation notices from their insurance companies today are big news, but a repeal would be exponentially larger.

Meet Preet Bharara, Who Just Won the Biggest Insider Trading Case Ever (WaPo)

Lydia DePillis profiles the U.S. Attorney for the Southern District of New York. His crusade against a culture of corruption on Wall Street led to a major victory in a criminal case against a hedge fund for insider trading yesterday.

Originally posted to Daily Kos on Tue Nov 05, 2013 at 09:40 PM PST.

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Comment Preferences

  •  The GOP isn't going to trade new taxes for (0+ / 0-)

    fewer defense cuts. I don't think that is a tradeoff the Republicans will support. I do think there is bipartisan agreement that departments should have more flexibility on how to manage sequester cuts, which will increase in early 2014. I don't think there will be a Grand Bargain or any significant changes in the budget, or entitlement programs, for F2014 or F2015. The "Mini-Bargain" higher taxes for the 1% and the sequester cuts have provided both sides with something they like. The Dems like the higher taxes on the wealthy and the defense cuts and the GOP likes the safety net cuts and the reduced annual deficit. There is just no bipartisan consensus to change from what is currently baked in the cake and without bipartisan agreement, nothing will change.

    "let's talk about that"

    by VClib on Tue Nov 05, 2013 at 09:36:03 AM PST

  •  Steve Cohen and SAC Capital agreed they (2+ / 0-)
    Recommended by:
    1BQ, Australian2

    were guilty of insider trading.  In a plea deal to keep Cohen out of prison, he gives up 2+ billion dollars in fines, closes his company, and walks away with the other 5-7 billion he made illegally.  He's not even barred from the financial industry, so in a couple years he'll be back, dealing from the bottom of the deck again, until he gets caught and has to fork over 2 zillion of the 14 zillion he will have made.

    Nice model for all aspiring hedge-fund crooks.

    “When it comes to this, I shall prefer emigrating to some country where they make no pretense of loving liberty—to Russia, for instance, where despotism can be taken pure and without the base alloy of hypocrisy.” —Abraham Lincoln

    by Pragmatus on Tue Nov 05, 2013 at 10:02:43 PM PST

  •  Military Spending SHOULD be cut, a LOT (2+ / 0-)
    Recommended by:
    YinzerFromPGH, 1BQ

    Two decades after the end of the Cold War arms race, the US military still costs more in real dollars than the average Cold War levels.

    Most of the annual (discretionary) federal budget is spent on the military, although civilian federal programs and services create far more jobs than military programs per dollar spent.

    US Discretionary Spending1                $BILLIONS   percent  
    Military                                          671    52.1%
    Transportation                                        91     7.1%
    Education                                                73     5.7%
    Health                                             60     4.7%
    Veterans                                            57     4.4%
    Justice (administration of)                            54      4.2%
    Foreign aid + international                     50     3.9%
    Housing assistance                                44     3.4%
    Environment                                         40     3.1%
    Science, Tech & Space                             29     2.3%
    Community + regional development                 24     1.9%
    Employment + social services                     22     1.7%
    Income Security other                            22     1.7%
    General Government                                    20     1.6%
    Energy                                            13     1.0%
    Admin. of Social Security & Medicare                11     0.9%
    Agriculture - Subsidies                                6     0.5%

    (sorry, the columns line up in the input window, but not in the preview)

    The US spent more on the military in 2012  than the $651 Billion spent by the next 10 nations put together (mostly US allies.)2

    Urge our Senators and Representatives to:
    * make all budget cuts to spending on new nuclear weapons, other overkill systems,  and unnecessary overseas military bases;
    * fully fund programs to meet human needs;
    * especially an urgent transition to a renewable energy system; as well as
    * jobs, education, and public health, which would  make us all more secure.

    Sources: 1 US budget, FY2012,; 2 Trends in world military expenditures, 2012,

    There's no such thing as a free market!

    by Albanius on Tue Nov 05, 2013 at 10:03:19 PM PST

    •  I agree. (0+ / 0-)

      The Soviet Union.  Rome.  Spain.  All examples of kingdoms that collapsed to to military over spending.  Each ripe with examples of those in power doing whatever it takes to keep the wealth in the hands of the wealthy regardless of the toll it takes on the majority of citizens.  

      As the saying goes, a chain is only as strong as its weakest link.  A kingdom cannot maintain supremacy if its ruling class is not concerned about the health of ALL citizens.  Economic as well as physical and mental health.  If those on the bottom feel ignored, used, abused, taken for granted, they will begin to see their master as the enemy rather than someone for which they'd lay down their lives.  Why Did The Soviet Union Fall?“More Empires Have Fallen Because Of Reckless Finances Than Invasion”

  •  And pray tell me, what was Bharara's settlement? (0+ / 0-)

    Was it two cents for each dollar the firm's lawbreaking won them? Five? Maybe it went as high as - gosh! - ten whole cents for each dollar they defrauded other people out of!

    That'll teach 'em, fer shure! Surely, Attorney Bharara is to be applauded, for taking "slap on the wrist" to whole new levels - at least the lawbreakers get slapped now.

    That's what we're supposed to consider great strides forward? Pathetic.

    "Violence never requires translation, but it often causes deafness." - Bareesh the Hutt.

    by Australian2 on Wed Nov 06, 2013 at 01:13:54 AM PST

  •  That Atlantic article is funny. (0+ / 0-)

    The first person they mention has to be obscenely rich to be living by the river.  Most people wish they could have that level of income.  

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